China Eximbank contributes to USD 3 billion multi-tranche syndicated lending facility to Mercuria Energy Trading S.A. for debt refinancing, working capital, and general corporate purposes in 2023

Project narrative

In June 2023, a syndicate of 44 lenders -- including Bank of China, ICBC, China Construction Bank, China Eximbank, and Agricultural Bank of China -- reached financial close on a USD 3 billion multi-tranche syndicated lending facility to Mercuria Energy Trading S.A. Proceeds from the facility will be used for debt refinancing, working capital, and general corporate purposes. The facility is comprised of two tranches: a 1-year multicurrency revolving credit facility and a 3-year multicurrency revolving credit facility. All other lending details are unknown. This loan refinances and replaces the loan in 2022. A total of 44 lenders joined the facility. The Lead Arrangers are Arab Petroleum Investments Corporation (APICORP), Banco Santander S.A., London Branch, China Construction Bank Corporation, Beijing, Swiss Branch Zurich, Commercial Bank of Dubai PSC, Commerzbank AG London Branch, DBS Bank Ltd, London Branch, Erste Group Bank AG, London Branch, and The Export-Import Bank of China, Paris Branch. The Arrangers include Agricultural Bank of China Limited, London Branch, Bank ABC, Bank of Taiwan, Caixabank S.A., KfW IPEX-Bank GmbH, Lloyds Bank Plc, MUFG Bank, Ltd, National Bank of Ras Al-Khaimah, Raiffeisen Bank International AG, and Sumitomo Mitsui Trust Bank, Limited (London Branch). The Co-Arrangers are Bankinter, Banque Cantonale de Geneve, Banque Cantonale Vaudoise, First Commercial Bank, Limited, Garanti Bank International BV, Mashreqbank psc, Nedbank, Landesbank Hessen-Thüringen Girozentrale (Helaba), OTP Bank Plc, Wells Fargo Bank, N.A., London Branch, and Zürcher Kantonalbank. Bank of China's contribution is captured via Record ID #104201. ICBC's contribution is captured via Record ID #104202. China Construction Bank's contribution is captured via Record ID #104203. China Eximbank's contribution is captured via Record ID #104204. Agricultural Bank of China's contribution is captured via Record ID #104205.